Apollo DKV Insurance to invest Rs 5 bn in India

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Mumbai, May 9: Health insurer Apollo DKV Insurance Co. Ltd plans to invest up to 5 billion rupees in the next five years to increase market share, Vice Chairperson of the Apollo Hospitals Group, Shobana Kamineni, said on Friday.

"To be a significant player we need at least 15 percent of business in the health insurance sector in India," she said.

She estimated the health insurance business in India at $1 billion now. The addressable market is the 250 million middle class Indians, she said.

The company is a joint venture between Apollo Hospitals Group, which holds 74 percent in the venture, and DKV Deutsche Krankenversicherung AG, which is a part of German re-insurer Munich Re.

Apollo Hospitals Enterprise Ltd is the flagship of the Apollo Hospitals Group.

The venture has so far invested 1 billion rupees in India.